Last week, Noah penned a very interesting post, titled “Heroes of Blogging” (he includes a few kind words about your humble author). The temptation is to create one’s own list of blogging heroes, but instead I want to focus your attention on the impact of the entire financial blog format — on markets, investing and financial journalism. In my biased and not-so-humble opinion, the world of finance blogs has grown into having a surprisingly large impact on modern finance.

How? Consider what factors it has wrought. Blogging:

1. Loosened the grip of traditional players on information and news: Go back in time a decade or so, and we all got our financial news from only a handful of sources. The mainstream papers and magazines dutifully reported what companies said, government agencies reported and what markets did. Blogging has added a level of skepticism to the media diet. There is a willingness to call out nonsense that quite bluntly, deserves to be called nonsense. Not that it didn’t happen before bloggers were willing to do it — but it happens much more quickly and with more depth than pre-blogging days.

Continues here

Category: Financial Press, Weblogs

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

8 Responses to “What the Heroes of Blogging Have Accomplished”

  1. cbatchelor says:

    Ritholtz does a good job, but I’m going to give a hat tip to those making comments here (and, ok, the careful posting of the comments by Ritholtz and Company) that make this blog so worthwhile. It’s not surprising that both The Washington Post and Bloomberg have brought him on board.

    And NoahOpinion is great.

    There are, however, some concerns:
    http://www.talkingbiznews.com/2/frankie-flack-why-i-hate-sites-such-as-seeking-alpha/

  2. bigsteve says:

    The Internet is as big a deal as the printing press was. Anyone can easily and cheaply publish anything. Suddenly authors ignored by publishers can become successful. And different views on about everything can get a hearing. Obscure narrow specialties can be published even though that work may only be of interest to a few people. The only down side is nonsense can also be promulgated. But we have always had to be critical of what we read. I think the majority of us can cull the nonsense out.

  3. Bob is still unemployed   says:

    So, a blogger writes a blog about how bloggers saved the world.

    Pardon me if I remain unconvinced by such self-congratulations.

    “…2. Created a meritocracy: The readership of a blog is a function of the quality of its author’s thought process and writing skills….”

    The readership of a blog is subject to the filter bubble more than anything else. It is less the author’s thought process and more the author’s viewpoints that attract the audience. Example: zerohedge.

    The blogs that attract readers via the author’s thought process are in the rarefied atmosphere of the blog-sphere.

    Sure, some bloggers have provided some excellent commentary, but oh-so-many bloggers have also propagated mounds of disinformation to people who want to confirm their own opinions.

    • I didnt say all blahgs were worthwhile — ZH has crazied himself off of my regular reading list. They still occasionally put out something worthwhile, but the signal to noise ratio is bearable.

      • Bob is still unemployed   says:

        OK, I read this sentence, “…but instead I want to focus your attention on the impact of the entire financial blog format…” [emphasis mine] as meaning the entire financial blogging arena. My apologies if I misconstrued your intent.

      • Yofish says:

        That is a good qualification. I got tossed from ZH comments for too often comparing the fare to What Really Happened. I didn’t realize that anyone actually paid any mind to the zoological experiment there to create a better playpen for homo, xeno, negro, gyno and judeophobics. I never called names or disparaged anyone for other than being stupid. The laughable ‘Fight Club’ manifesto is one of those conceits that seems to flourish in the intertubes.

  4. swag says:

    Gotta give snaps to Mark Thoma as one of the pioneers (Barry has Thoma’s “Economist’s View” in the blogroll). I remember when I was a lowly IT peon working in finance and was casting about years ago for an econ blog to help me make more sense of what I was seeing around me, Thoma’s blog was the first one where I could land my browser every day for a wealth of good data, analysis, and links. It was through Thoma’s blogroll that I discovered the Big Picture, Calculated Risk, Brad Delong, Felix Salmon, Fed Watch, etc.

  5. LeftCoastIndependent says:

    Heck with TV. Don’t even watch it anymore. It was the internet blogs that saved my retirement accounts in 2008. Cashed out end of August and got back in 9 months later.